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Georg Friedrich Knapp (German:; 7 March 1842 – 20 February 1926) [2] was a German economist who in 1905 published The State Theory of Money, which founded the chartalist school of monetary economics, which argues that money's value derives from its issuance by an institutional form of government rather than spontaneously through relations of exchange.
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Georg Friedrich Knapp, a German economist, invented the term "chartalism" in his State Theory of Money, which was published in German in 1905 and translated into English in 1924. The name derives from the Latin charta, in the sense of a token or ticket. [2] Knapp argued that "money is a creature of law" rather than a commodity. [3]
MMT synthesizes ideas from the state theory of money of Georg Friedrich Knapp (also known as chartalism) and the credit theory of money of Alfred Mitchell-Innes, the functional finance proposals of Abba Lerner, Hyman Minsky's views on the banking system [18] and Wynne Godley's sectoral balances approach. [15]
The Philosophy of Money (1900; German: Philosophie des Geldes) [1] is a book on economic sociology by German sociologist and social philosopher Georg Simmel. [2] Considered to be the theorist's greatest work, Simmel's book views money as a structuring agent that helps people understand the totality of life. [2]
His words may have secured the money market. George W. Bush uttered 'the 10 most important words in the history of economics' during the 2008 financial crisis, Warren Buffett says — here's how ...
Georg Friedrich Knapp (1842–1926) coined the term "metallism" to describe monetary systems using coin minted in silver, gold or other metals. [1] In metallist economic theory, the value of the currency derives from the market value of the commodity upon which it is based independent of its monetary role.
Biopics often take liberties with the truth, but Clinton says 'Spinning Gold' got at least two things right: Wiz Khalifa did a "real good job" portraying him, and he really did spend seven figures ...